AMERICAN NEVADA GOLD PLANS TO EXPLORE GOLD BAR

AMERICAN NEVADA GOLD CORP.

FOR IMMEDIATE RELEASE
Monday, May 12, 2003
(No.03-05-04)

Contact:   
Investor Relations
Phone (604) 684-2114
info@varshneycapital.com

AMERICAN NEVADA PLANS TO EXPLORE GOLD BAR

AMERICAN NEVADA (PRWEB) May 12, 2003 -- GOLD CORP. (the "Corporation") (TSX Venture Exchange: AGN) is pleased to report its plans to commence exploration of the Gold Bar Property located in the Battle Mountain / Eureka mineral trend in central Nevada. The Gold Bar project is held under an option agreement with American Bonanza Gold Mining Corp. (the "Operator").

Production by Atlas Corporation and its subsidiaries began at the Gold Bar Pit in 1987 and continued until the mine closed in 1994. A total of 7,514,600 tons grading 0.074 opt gold were produced. Recoveries averaged 87%, resulting in production of 485,000 ounces of gold, as previously announced. Atlas mined from limestone host rocks which are relatively poor hosts for sediment hosted, disseminated (Carlin-type) gold deposits. The most favourable known host rock for Carlin-type gold deposits is the Roberts Mountains Formation, known to exist in the Main Gold Bar Pit area at depths of approximately 700 metres. The target deposit would lie at depth within the Roberts Mountains Formation. The target deposit would occur where the feeder structures intersect the Roberts Mountains Formation, and would be a high grade, deep Carlin type deposit.

The Stage 1 Exploration Program at the Gold Bar Property, which has already commenced, consists of continuing and completing the data entry and processing by the Operator in the Gold Bar Main Pit area. This data has been entered and incorporated into 2-D and 3-D models and will be combined with structural, geological and exploration and development drilling data. The resulting model will guide the deep drilling required to test the deep Carlin-type deposit model.    Upon completion of the modelling, one or two reverse circulation drill holes will be drilled to depth. The initial drilling program will provide essential stratigraphic information in the vicinity of the Gold Bar Main Pit area feeder structures. It will also provide preliminary information concerning alteration and possible gold mineralization in the Roberts Mountains Formation near the feeder structures.

The drill permitting process for the Gold Bar Property has commenced and will likely be completed this month. The initial drilling program will commence as soon as permits are in place, anticipated to be during June.

Additional information about American Nevada and its properties can be obtained at www.americannevadagold.com. For further information please contact Investor Relations at (604) 684-2181.

AMERICAN NEVADA GOLD CORP.

"Hari B. Varshney"

Hari B. Varshney
President

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for the adequacy or accuracy of this release.